Negotiators' Communication, Perception of Their Counterparts, and Performance in Dyadic E-negotiations

The aim of this study was to improve our understanding of negotiation strategies, behaviors, and outcomes, and the relationships between these factors based on data collected from questionnaires, actual behavior during the negotiation process implemented using e-negotiation system, and the negotiation outcomes. This study clustered the negotiators based on either the negotiators' own strategies or their thoughts about those of their partners. This resulted in a division into cooperative and noncooperative clusters. We found that the negotiators whose own strategies are less cooperative tend to submit more offers but fewer messages. However, these people consIDer that they have less control over the negotiation process compared with those who adopt a more cooperative strategy, who make fewer offers but send more messages. Those in the cooperative cluster consistently feel friendlier about the negotiation and more satisfied with the outcome and their performance. Further, there is a correlation not only between self-strategies and the thoughts about partners' strategies, but also between strategies and final agreements. Finally, the proportion of negotiations reaching agreement is larger for the cooperative cluster than for the noncooperative cluster.     

Equity Valuation Employing the Ideal versus Ad Hoc Terminal Value Expressions*

Recently, Penman and Sougiannis (1998) and Francis, Olsson, and Oswald (2000) compared the bias and accuracy of the discounted cash flow model (DCF) and Edwards‐Bell‐Ohlson residual income model (RIM) in explaining the relation between value estimates and observed stock prices. Both studies report that, with non‐price‐based terminal values, RIM outperforms DCF. Our first research objective is to explore the question whether, over a five‐year valuation horizon, DCF and RIM are empirically equivalent when Penman's (1997) theoretically “ideal” terminal value expressions are employed in each model. Using Value Line terminal stock price forecasts at the horizon to proxy for such values, we find empirical support for the prediction of equivalence between these valuation models. Thus, the apparent superiority of RIM does not hold in a level playing field comparison. Our second research objective is to demonstrate that, within each class of the DCF and RIM valuation models, the model that employs Value Line forecasted price in the terminal value expression generates the lowest prediction errors, compared with models that employ non‐price‐based terminal values under arbitrary growth assumptions. The results indicate that, for both DCF and RIM, price‐based valuation models outperform the corresponding non‐price‐based models by a wide margin. These results imply that researchers should exercise care in interpreting findings from models using ad hoc terminal value expressions.     

Do Financial Reforms Improve the Performance of Financial Holding Companies? The Case of Taiwan

We examine the performance of financial holding companies (FHCs) in Taiwan after the financial reform that removes the separation of banking, securities, insurance, and other financial services. Using data envelopment analysis, we find that FHCs fail to improve technical efficiencies in the post‐reform era. They also do not outperform independent commercial banks after the financial reform. Lower technical efficiency caused by excess operating expenses appears to be the primary source of inefficiency. While scale efficiency may improve as FHCs grow larger, the benefits are marginal and insufficient to offset the potential costs of organizational diseconomies. Our findings suggest that increasing the size and scope of financial activities alone do not necessarily improve the performance of financial firms.     

The euro and pound volatility dynamics: An investigation from conditional jump process

This paper investigates the variations of the volatility of euro and pound after the introduction of euro. A GARJI model is employed to analyze the impact of the news arrivals on the exchange rate volatility. The results are robust to the data-splitting schemes and indicate: (1) the conditional variance of euro is larger than that of pound. (2) The stability of euro exchange rates has made progress in recent years, which is accomplished by the decreases in the jump innovations. This paper supports the arguments on the determinants of exchange rate stability claimed by Mundell (1998) and Mussa (2000).     

Aggregate nursing requirement planning in a public health care delivery system.

In this paper, we present an aggregate nursing requirement planning model for inpatient services to provide inputs for preparing yearly budgets in a public health care delivery system. A forecasting system using autoregressive integrated moving average time-series models forms the basis of project demands for nursing hours by medical specialities. These projections along with the institutional constraints and patient care requirements are all incorporated in a linear programming model for assessing needs for permanent staff, overtime pay and contracting temporary help—by medical service, nursing skill level and time period (month). We also expand the model to evaluate the sizing of a pool of float nurses. The model is developed within the framework of routine managerial planning process of the system under study (vis-à vis, the data base and the organizational structure). Historical data are used to estimate input parameters for the model. The staffing needs generated from the model for 1978 are compared with the actual system performance.     

移动电子商务发展的影响因素及需求特点研究

移动电子商务是电子商务现代化建设的核心问题和关键环节,也是当前新型电子商务发展的重点和难点。文章利用灰色关联分析法对移动电子商务发展的影响因素进行分析,同时基于实际调研和资料搜集对个人和企业的移动电子商务使用意愿进行分析用户需求特点,总结出用户的共同需求特点,进而给移动电子商务产业链上游企业指明发展方向,促进我国移动电子商务的健康快速发展。     

Is price undertaking a more friendly protection policy than an anti-dumping duty?1

It is generally believed that price undertaking is a more amicable protection policy for a foreign dumping firm than an anti-dumping (AD) duty as the former allows the foreign dumping firm to keep the duty rents. However, this result contradicts the empirical finding in, who shows that only 41% of anti-dumping measures in EEC end up with price undertaking in 1981–2001, even though firms can commit to a minimum price instead of being imposed with an anti-dumping duty. From the perspective of the dumping firm, this paper shows that whether the price-undertaking police is more or less amicable than the AD duty is contingent upon the competition modes of the firms in the industry.     

The memory-search frame effect: impacts on consumers’ retrieval and evaluation of consumption experiences

Marketing Letters - When consumers recall past consumption experiences (e.g., vacations), they often need to search their memory for relevant events within certain time frames (e.g., the past...